Business

Former Lawrence Dodge dealership in West End slated for condo development

The former dealership at 7411 W. Broad Street sold for $6.85 million; 200 condos are planned.

Published

8 years ago

on

From Richmond BizSense:

A Northern Virginia-based builder has secured the site of a planned residential infill development in western Henrico County, forking over three times what it paid for a slightly larger site less than a quarter-mile away.

Reston-based Stanley Martin Homes closed this month on the former Lawrence Dodge dealership property at 7411 W. Broad St., paying $6.85 million for the 13-acre site, where it plans to build up to 200 condos.

The deal with Lawrence Motor Co., which retained ownership of the site after closing the dealership, closed Jan. 4, according to county property records. A county assessment most recently valued the property at $5.24 million.

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